SoFlo Intel Report GREAT BUYS IN SOUTH FLORIDA’S POPULAR NEIGHBORHOODS | BOCA RATON EDITION
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Welcome to the SoFlo Intel Report: RelatedISG Realty’s submarket snapshot of the best buys in South Florida’s best neighborhoods in Each edition, we will dive into factors and projects that make these neighborhoods so popular. In this edition, we are focusing on one of South Florida’s hottest condo markets, Boca Raton.
CURRENT CYCLE
New Construction Condo Summary Boca Raton, Traditional New Condos East of I-95 Since 2012 Traditional Condos are defined as Condos with no short-term rentals REMAINING DEVELOPER INVENTORY SOLD DEVELOPER UNITS
145
Remaining Unsold Developer Inventory
428 75% Sold as of April 2021
573 Total Units
Source: Developer Onsite Sales Offices, Developer Sales Reports and Broker Contacts
Sold Developer Unit
CURRENT CYCLE
Boca Raton Future Condo Deliveries Traditional Condos are defined as Condos with no short-term rentals
TOTAL CONDO DELIVERIES
5
4
The Residences Mandarin Oriental Royal Palm Residences
3
2
1
ALINA Residences
2
1
0
2021
* Projected
2022
0
0
0
2023*
2024*
2025*
Boca Raton Condos Active Listing Analysis TOTAL ACTIVE MLS LISTINGS
1250
1132
10 Year Low
1017
ACTIVE MLS LISTINGS
1000
714
750
564
500
250
0
Q3 - 2020
Q4 - 2020
Q1 - 2021
April 15th, 2021
Boca Raton Condo Resales 2019 - 2021
TOTAL NEW TRANSACTIONS
Jan-April 2021
Jan - April 15th 36% of Sales made in 2020
719
Jan-Dec 2020
1991
Jan-Dec 2019
1919
To t a l N e w Tr a n s a c t i o n s
0
500
1000
1500
2000
At Current Sales Pace, Boca Raton MLS Resales, Looking to Surpass 2020 by September
305.931.6511 | RELATEDISGREALTY.COM OFFICES Aventura | Coral Gables | Edgewater | Fort Lauderdale | Weston